Opendoor Technologies Inc (NASDAQ:OPEN) price on Thursday, May 22, fall -1.23% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.68.
A look at the stock’s price movement, the close in the last trading session was $0.69. Turning to its 52-week performance, $3.09 and $0.65 were the 52-week high and 52-week low respectively. Overall, OPEN moved -19.15% over the past month.
Opendoor Technologies Inc’s market cap currently stands at around $495.65 million, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 1.5B for the company’s revenue for the quarter, with a low and high estimate of 1.47B and 1.53B respectively. The average forecast suggests down to a -0.74% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.91B, representing a -4.76% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that OPEN is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 3 recommend OPEN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
OPEN’s current price about -9.33% and -26.84% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.44, while 7-day volatility ratio is 4.13% and 8.61% in the 30-day chart. Further, Opendoor Technologies Inc (OPEN) has a beta value of 2.81, and an average true range (ATR) of 0.08. Analysts have given the company’s stock an average 52-week price target of $1.75, forecast between a low of $1.75 and high of $1.75. Looking at the price targets, the low is -157.35% off current price level while to achieve the yearly target high, price needs to move -157.35%. Nonetheless, investors will most likely welcome a -157.35% jump to $1.75 which is the analysts’ median price.
If we refocus on Opendoor Technologies Inc (NASDAQ:OPEN), historical trading data shows that trading volumes averaged 56.38 million over the past 3 months. The company’s latest data on shares outstanding shows there are 726.84 million shares.
The 15.31% of Opendoor Technologies Inc’s shares are in the hands of company insiders while institutional holders own 53.53% of the company’s shares. Current price change has pushed the stock -57.50% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the OPEN stock continues to rise going into the next quarter.
